Petropavlovsk provides final results in tender offer for 8 1/8% notes

Chicago, Aug. 10 – Petropavlovsk plc announced the final results of subsidiary Petropavlovsk 2016 Ltd.’s cash tender offer for up to $200 million of its $500 million outstanding 8 1/8% guaranteed notes due 2022 (ISINs: XS1711554102, US71675MAA45), according to a company announcement.

The company accepted for purchase $135,731,000 of the notes. No notes have been tendered since the early deadline on July 26.

Noteholders who tendered their notes had their tenders settled on the early settlement date on July 30.

Noteholders received the full consideration of $1,055 per $1,000 note, inclusive of an early tender payment of $30, if they tendered their notes by the early deadline. The company paid an aggregate consideration of $143,196,205 for the accepted early tendered notes.

The tender offer expired at 11:59 p.m. ET on Aug. 9.

The final settlement date was scheduled for Aug. 12.

As previously reported, the company is making the tender offer as a means to manage the group’s upcoming debt redemptions and to lower the cost of the group’s debt portfolio.

GPB-Financial Services Ltd. is the dealer manager (+7 495 913 7932, +7 499 271 9154, +7 495 988 2353, liability.management@gazprombank.ru).

Citibank NA, London Branch is the tender and tabulation agent (+44 20 7508 3867, citiexchanges@citi.com).

Petropavlovsk is a London-based gold mining company with operations in Russia.

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